East African Community to Decide on Regional Central Bank Launch in 2023

East African Community to Decide on Regional Central Bank Launch in 2023


The East African Community (EAC) will decide during the course of the year 2023 when and where it will locate the envisioned regional central bank, the regional intergovernmental organization’s Peter Mathuki has reportedly said. The setting up of the regional central bank is expected to help the EAC achieve its goal of attaining a single currency regime in three years.

Location of the Regional Central Bank

As the East African Community (EAC) inches towards its single currency regime objective, a top official said the regional intergovernmental organization would decide when and where it will locate the planned regional central bank in 2023. According to a report, the financial institution, which will be known as the East African Monetary Institute (EAMI), is seen as an

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